ey-megatrends-report-2015

Recommendations

Info

Digital future 3. Digital transformation and a proliferation of data are fundamentally changing the relationship between businesses and their customers Businesses are gaining unprecedented opportunities to understand consumer needs, preferences and behaviors. The amount and types of customer data available from sources, including social media, online shopping behavior and geolocation information, are expanding at a rapid rate. Making sense of the volume and variety of this information, however, is a challenge. Firms that can extract value from this information using data analytics will benefit greatly. They will gain a more precise understanding of customer segments. Products and services can be tailored to the level of the individual. Altogether, they can deliver a much richer customer experience. This is important because consumers’ expectations are growing. They are demanding greater choice and control, more transparency, and anytime anywhere access to information. They also want their voices heard, and digital technologies are making it easier to gather and understand consumer feedback. Reacting to these demands, businesses are engaging individual consumers and virtual communities as co-creators. As social media amplifies the voice of the customer, there are benefits and risks for companies. Individual “prosumers” may serve as powerful brand or product ambassadors, and online communities may provide key platforms for introducing and testing products, or for communicating important messages. On the other hand, companies are having a harder time controlling messages about themselves in this new era. An organization that fails to engage in a timely or appropriate manner through social media, or that issues an ill-fated message, can suffer rapid and significant damage to their brand. Real or perceived missteps made by companies or even their supply chain partners can go viral without warning — with negative repercussions. In this environment, companies need to increase transparency, while proactively cultivating and managing relationships with their stakeholders and customers. Businesses are failing to use approximately 80% of customer data now generated. Source: Beth Schultz, “IDC: Tons of Customer Data Going to Waste,” AllAnalytics website, 19 December 2013, www.allanalytics.com/author.asp?section_ id=1411&doc_id=270622&_mc=MP_IW_EDT_STUB, accessed 8 January 2015. 10 Megatrends 2015 Making sense of a world in motion
4. Digital disruption is changing the market context and competitive landscape of most industries 2018 By 2018, one-third of the top-20 in most industries will be disrupted platforms. Source: Perspectives: TCS Consulting Journal, Vol. 05: The Digital Enterprise: A Framework for Transformation. Tata Consultancy Services, 2013. Technology is no longer just an industry unto itself; it continues to reshape nearly every other industry in dramatic ways. The pervasiveness and power of new technologies are blurring sector boundaries as companies across industries develop their own digital strategies and solutions (either in-house, through acquisitions, or via partnerships with “traditional” technology firms). Many companies not traditionally thought of as technology players are positioning themselves in the market with their own digital platforms providing innovative solutions to meet the unique needs of their customers and partners. Increasingly, companies are pricing and delivering their products as a service via the cloud. In some cases, these companies are establishing their own bestof-breed platforms, commercializing their proprietary technology and selling it to others within their industry. The growing prevalence of these industryfocused solutions and those already offered by traditional technology firms is enabling the expansion of digital ecosystems and is changing the competitive dynamics of the market. Industry solutions providers do not always own the end-to-end value chain and often rely on technology partners to help connect their offerings to the ecosystem. 4 As this ecosystem expands, industry players are buying and implementing digital technologies from their competitors, as well as competing with their existing technology business partners in the market offering similar vertical solutions. The relationships between companies in this environment will continue to be very fluid, as partners in one channel are becoming competitors in another. 5 Megatrends 2015 Making sense of a world in motion 11
Page 1 and 2: Megatrends 2015 Making sense of a w
Page 3 and 4: Welcome At EY, we describe megatren
Page 5 and 6: Each megatrend is important in its
Page 7 and 8: major hub. In the global marketplac
Page 9 and 10: 1Digital future Fueled by the conve
Page 11: 2. Declining PC usage and increasin
Page 15 and 16: 6. Workstyles and the means to enga
Page 17 and 18: 2Entrepreneurship rising The growth
Page 19 and 20: 2. High-impact entrepreneurs will c
Page 21 and 22: 4. The face of entrepreneurship is
Page 23 and 24: 6. Access to funding remains the bi
Page 25 and 26: 3Global marketplace will continue t
Page 27 and 28: 2. Trade-flow patterns will undergo
Page 29 and 30: 4. The growing global middle class
Page 31 and 32: 6. The war for talent grows increas
Page 33 and 34: 4Urban world The number and scale o
Page 35 and 36: 2. Demographic patterns will help s
Page 37 and 38: 5. An urban world requires major in
Page 39 and 40: 7. Truly sustainable cities must al
Page 41 and 42: 5Resourceful planet Absolute popula
Page 43 and 44: Over the next 20 years 2. Increasin
Page 45 and 46: The cost of adapting to climate cha
Page 47 and 48: 6Health reimagined Health care —
Page 49 and 50: 2. Incidence of chronic disease wil
Page 51 and 52: 5. Genetic and genomic information
Page 53 and 54: 3Global marketplace 1. “The super
Page 55 and 56: Megatrends 2015 Making sense of a w

ey-megatrends-report-2015

Create successful ePaper yourself

Delete template?

Save as template?